Succession Planning
Its clear to see that succession planning and development of future leaders does not exist in isolation - it needs to reflect the company's strategic objective and strategic goals. For any organization to implement an effective succession plan there are a number of key issues that need to be considered:
• The succession planning program must have the support and backing of the company's senior level management
• Succession planning must be part of an integrated HR process that includes training, development and performance appraisal
• Identify what skills the organization will need in 5, 10 or 15 years
• Critical positions must be identified and included in the Company's succession planning program
• Identify high-performers that are almost ready to step into those critical positions
• Analyze the workforce and identify who will be eligible for retirement within the next five years
• Managers need to identify the responsibilities, skills and competencies that will be needed by their replacements
• A system for communicating succession planning information to managers must be established
• A systematic approach for identifying, nominating and selecting potential successors must be established
• Background information on potential successors, such as education, experience, skills, appraisals and potential should be reviewed
• The training and development requirements of potential successors needs to be determined
• The skills of potential successors must be developed through work experiences, job rotation, projects and other challenging assignments
• A system for monitoring candidate's development plan progress by senior management should be established
• Succession planning must include a system for providing feedback and encouragement to potential successors
• Succession planning is basically a "numbers game" that requires good organizational skills and the ability to pay attention to details
• Finally, the succession
• The succession planning program must have the support and backing of the company's senior level management
• Succession planning must be part of an integrated HR process that includes training, development and performance appraisal
• Identify what skills the organization will need in 5, 10 or 15 years
• Critical positions must be identified and included in the Company's succession planning program
• Identify high-performers that are almost ready to step into those critical positions
• Analyze the workforce and identify who will be eligible for retirement within the next five years
• Managers need to identify the responsibilities, skills and competencies that will be needed by their replacements
• A system for communicating succession planning information to managers must be established
• A systematic approach for identifying, nominating and selecting potential successors must be established
• Background information on potential successors, such as education, experience, skills, appraisals and potential should be reviewed
• The training and development requirements of potential successors needs to be determined
• The skills of potential successors must be developed through work experiences, job rotation, projects and other challenging assignments
• A system for monitoring candidate's development plan progress by senior management should be established
• Succession planning must include a system for providing feedback and encouragement to potential successors
• Succession planning is basically a "numbers game" that requires good organizational skills and the ability to pay attention to details
• Finally, the succession